It\u2019s acquisition and consolidation time in cable TV land. Multisystem operator Hathway Cable & Datacom informed the BSE on 27 November 2024 that it had acquired the balance 61.15 per cent equity stake ( 20,54,832) equity shares from the existing shareholders (including Hathway MCN Pvt Ltd – a Hathway offshoot) of Hathway Cable MCN Nanded Pvt Ltd (\u201cHathway Nanded\u201d), a subsidiary of the company for an aggregate cash consideration of Rs. 11 (Rupees eleven only). <\/p>\n
The acquisition of equity shares is for consolidation of business operations. Post-acquisition, Hathway Nanded has now become a wholly owned subsidiary of Hathway Cable & Datacom. <\/p>\n
Hathway Nanded, incorporated in India on 11 March 2008, runs cable TV operations and has a presence in Nanded, Maharashtra. It had a turnover of Rs 5.58 crore in FY 2023-2024, Rs 7.08 crore in FY 2022-2023 and Rs 8.79 crore in FY 2021-2022. <\/p>\n
It informed the stock exchange that one of the transferors (out of eleven), namely Hathway MCN Pvt Ltd, is a related party of Hathway Cable and the acquisition is on an arm\u2019s length basis. None of the company\u2019s promoter \/ promoter group \/ other group companies have any interest in the above transaction. No governmental or regulatory approvals were required for the acquisition.<\/p>\n","protected":false},"excerpt":{"rendered":"
It\u2019s acquisition and consolidation time in cable TV land. Multisystem operator Hathway Cable & Datacom informed the BSE on 27 November 2024 that it had acquired the balance 61.15 per cent equity stake ( 20,54,832) equity shares from the existing shareholders (including Hathway MCN Pvt Ltd – a Hathway offshoot) of Hathway Cable MCN Nanded Pvt Ltd (\u201cHathway Nanded\u201d), a subsidiary of the company for an aggregate cash consideration of Rs. 11 (Rupees eleven only). The acquisition of equity shares is for consolidation of business operations. Post-acquisition, Hathway Nanded has now become a wholly owned subsidiary of Hathway Cable & […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-882405","post","type-post","status-publish","format-standard","hentry","category-broadcasting"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/882405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=882405"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/882405\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=882405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=882405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=882405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}